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A once-radical proposal to narrow the vast racial wealth gap and other economic disparities is poised to achieve a key milestone in the US: actual funding to put programs in place. Connecticut Governor Ned Lamont and fellow Democrats in the legislature are about to announce a 12-year, $600m deal to launch a baby bonds program for newborns starting in July.
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“We are celebrating. It was a little scary at times,” said Darrick Hamilton, the New School economics professor who developed the baby bonds proposal. “These ideas are getting momentum,” he said, driven by a wide political coalition that made “clear and plain the value of the program.”
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